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The Digitalization of the Altimeter System and Pitot Tube Remains as the Major Trend of this Industry
According to a new market research report, the global altimeter system and pitot tube market for the aerospace and defence industry is expected to show a substantial growth by 2019. This market is estimated to be around $2.30 billion in 2014 and is expected to reach $2.62 billion by 2019. The global altimeter system and pitot tube market is broadly classified into altimeter system market and pitot tube market. Each of these segments can be further classified on the basis of platform, products, and applications.
The driving factors of this market would be the increase in the number of aircraft orders and government regulations. The digitalization of the altimeter system and pitot tube remains as the major trend of this industry.
A market growth is projected in countries such as China and Switzerland for altimeter system. The North American and European regions would show a comparatively sluggish growth over the next five years. However, high growth in the global share of altimeter system and pitot tube is expected in Asia-Pacific and the Middle East. It is estimated that countries from the APAC region shall spend a significant amount on domestic production and global procurement of different types of aircraft and for commercial and military application, which will drive the growth of altimeter and pitot tube market.
Garmin International Inc. (Switzerland), Aerosonic Corporation (U.S.), and Honeywell Aerospace (U.S.) will occupy a significant market share in the forecast period. Falcon Gauge (U.S.), MEMSCAP AS (Norway), and Dynon Avionics (U.S.) will also continue to make significant contributions to this market.
Altimeter System and Pitot Tube Market for Aerospace and Defense Industry, by Product, by Platform, by Geography (North America, Europe, Asia-Pacific, the Middle-East, Latin America, ROW) - Forecasts & Analysis to 2014 - 2020
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